Latest news with #Asim
Mint
18 hours ago
- Business
- Mint
Fake FDs, loan scams, missing crores: HDFC probes fraud at Kashmir's Shopian branch, two ex-managers booked
Jammu and Kashmir police is probing a multi-crore fraud uncovered in HDFC Bank's internal audit at its branch in Shopian district of the Union Territory The bank, through its cluster head, South Kashmir, has lodged an FIR at the Shopian Police station accusing two of its employees posted at its Shopian branch of financial fraud over the last many years. The two accused in the FIR—Irfan Zargar and Aadil Ayub—were posted as managers in the bank one after another, during which they allegedly conducted the fraud. The bank management filed the FIR after an internal investigation into the matter. The FIR (168/2025) has been registered under Sections 316 (5) (criminal breach of trust), 318 (4) (cheating), 336 (3) (forgery), 340 (2) (using a forged document or electronic record) of the Bharatiya Nyaya Sanhita (BNS). The accused have also been booked under section 66 (C) of the IT Act, which deals with fraudulent or dishonest use of another person's electronic signature, password, or other unique identification feature. The FIR (168/205) Has been registered under Sections 316 (5) (criminal breach of trust), 318 (4) (cheating), 336 (3) (forgery), 340 (2) (using a forged document or electronic record) of the Bharatiya Nyaya Sanhita (BNS) The discrepancy was detected by the bank's Branch Operations Transformation and Control (BOTC) wing in June this year. The bank found a variation between an account holder's physical cash and electronic record. LiveMint found that the bank detected a shortfall of ₹ 1.35 crore in the account. The bank reached out to the account holder, a businessman named Asim Iqbal Wani, Director Freshman, a CA store in Pulwama. Asim found that his loan account was still showing an outstanding balance against him, though he had already received an NOC from the bank via email. 'The bank found that the manager at that time had not closed the loan account despite all payments being made. In fact, it's entries showed 1.35 Crore outstanding balance against me,' said Asim. As word spread, other branch account holders found discrepancies in their transactions as well. Harried account holders wrote emails and letters to the bank's management, including thechairman. In one case, that LiveMint spoke with, the manager had issued a fake FD document of ₹ 20 Lakh to an account holder after taking the money from him. The customer was shocked to find that the FD that he had been banking on for years did not exist at all. Eventually, it was found that the financial frauds were happening in the bank's Shopian branch since 2020. The bank is the custodian of the money. There is an agent-principal relationship between the bank and its employees. The principal is liable for the frauds committed by its agents during the course of employment. LiveMint reached out to HDFC Corporate Communication for a comment through email and phone. The bank spokesperson refused to comment since the case is under police investigation now. The bank has taken action against the managers with one of them being suspended. 'We are glad the bank has filed an FIR. But what about our money? After all, the bank is the custodian of the money. There is agent-principal relationship between the bank and its employees. The principal is liable for the frauds committed by its agents during the course of employment,' said an aggrieved customer who did not want to be named. The FIR says that since the case has 'inter district ramifications' and is of public importance involving complex and technical expertise, it is proposed that it be transferred to the economic offence wing of the Crime Branch of Jammu and Kashmir Police.
Time of India
04-08-2025
- Time of India
Two arrested for cyber fraud of Rs 69 lakh
1 2 Times News Network Kanpur: Two suspects were arrested from Jajmau on Sunday for their involvement in a cyber fraud of Rs 69 lakh. The arrested persons were identified as Hasan from Saadatganj in Lucknow, and Asim from Rani Kothi Napier Road Colony, Thakurganj. The police have recovered three mobile phones, four chequebooks, six debit cards, and a car from the suspects. They used a rickshaw puller's account for the transactions. On a complaint lodged by the director of a private company, the cybercrime unit analysed digital footprints and banking transactions, that led them to the suspects' location in Jajmau. The investigation revealed a pattern where the accused targeted business entities through sophisticated cyber techniques. The use of a rickshaw puller's account highlighted their modus operandi of exploiting vulnerable individuals to carry out their fraudulent schemes. The police have registered a case under relevant sections of the IT Act and other relevant sections. Further investigation is underway to uncover any potential accomplices and retrieve the stolen funds.
Express Tribune
03-08-2025
- Politics
- Express Tribune
'Hybrid threats' demand civil-military synergy, says COAS
Listen to article Chief of Army Staff (COAS) Field Marshal Syed Asim Munir emphasised the importance of national unity, civil-military synergy, and a whole-of-nation approach in countering hybrid threats and fostering social cohesion, the military's media wing said on Saturday. The army chief said this during his visit to the Multan Garrison, where he reviewed the operational preparedness of the formation and presided over the induction ceremony of the Z-10ME attack helicopters into Pakistan Army Aviation. According to the Inter-Services Public Relations (ISPR), the all-weather platform, equipped with advanced radar systems and electronic warfare capabilities, is designed for precision strike missions. It is expected to significantly enhance Pakistan Army Aviation's operational capabilities against both aerial and ground threats. Following the ceremony, Field Marshal Asim witnessed a live firepower demonstration by the Z-10ME helicopters at the Muzaffargarh Field Firing Ranges. The display showcased the Army's modernised response capabilities and the integration of combined arms tactics, the ISPR said. The COAS was received by the corps commander and briefed at the Corps Headquarters on ongoing training activities and the overall operational readiness of the formation. He expressed satisfaction over the high state of preparedness and reaffirmed the army's unwavering commitment to defending national sovereignty and territorial integrity, the statement read. Gen Munir also held an interactive session with members of academia and civil society, where he emphasised the importance of national unity, civil-military synergy, and a whole-of-nation approach in countering hybrid threats and fostering social cohesion, it added. In his interaction with troops, the army chief praised their high morale, professionalism, and combat readiness. He commended the effective demonstration of battlefield tactics, reiterating the Army's resolve to maintain an edge amid evolving threats, the statement concluded.
Express Tribune
02-08-2025
- General
- Express Tribune
COAS reviews operational readiness, inducts Z-10ME in Multan visit
Listen to article Chief of Army Staff (COAS) Field Marshal Syed Asim Munir visited Multan Garrison, where he reviewed the operational preparedness of the formation and presided over the induction ceremony of the Z-10ME attack helicopters into Pakistan Army Aviation, the military's media wing said on Saturday. The Z-10ME induction ceremony was held later in the day. According to the Inter-Services Public Relations (ISPR), the all-weather platform, equipped with advanced radar systems and electronic warfare capabilities, is designed for precision strike missions. It is expected to significantly enhance Pakistan Army Aviation's operational capabilities against both aerial and ground threats. Following the ceremony, Field Marshal Asim witnessed a live firepower demonstration by the Z-10ME helicopters at the Muzaffargarh Field Firing Ranges. The display showcased the Army's modernised response capabilities and the integration of combined arms tactics, the ISPR said. The COAS was received by the corps commander and briefed at the Corps Headquarters on ongoing training activities and the overall operational readiness of the formation. He expressed satisfaction over the high state of preparedness and reaffirmed the Army's unwavering commitment to defending national sovereignty and territorial integrity, the statement read. Gen Munir also held an interactive session with members of academia and civil society, where he emphasised the importance of national unity, civil-military synergy, and a whole-of-nation approach in countering hybrid threats and fostering social cohesion, it added. In his interaction with troops, the army chief praised their high morale, professionalism, and combat readiness. He commended the effective demonstration of battlefield tactics, reiterating the Army's resolve to maintain an edge amid evolving threats, the statement concluded.
Express Tribune
31-07-2025
- Politics
- Express Tribune
Terror: COAS for unified effort
Chief of Army Staff (COAS) Field Marshal Syed Asim Munir on Wednesday reaffirmed the Pakistan Army's unwavering commitment to ending the menace of terrorism and the socio-economic uplift of Balochistan for national cohesion and integration. Interacting with participants of the 16th National Workshop on Balochistan, Field Marshal Asim condemned India's blatant sponsorship of terror proxies, characterising them as a failed attempt to target the deep-rooted patriotism of the people of Balochistan. He stated that India, having suffered defeat in Marka-e-Haq, had escalated its proxy war to advance its nefarious designs. He specifically referenced Fitna-al-Khawarij and Fitna-al-Hindustan as pawns of Indian hybrid warfare against Pakistan. "India, having suffered defeat in Marka-e-Haq, has now escalated its proxy war to advance its nefarious designs, specifically referencing Fitna-al-Khawarij and Fitna-al-Hindustan as pawns of Indian hybrid warfare against Pakistan," he said.
